20 universities that produce the most millionaires and billionaires

No college degree can guarantee you wealth, but a handful of schools have a proven track record of minting rich people, from billionaire founders and CEOs to investors to politicians.

Wealth-X, a firm that does research and valuations on ultra-high net worth (UHNW) individuals, has revealed where the world's wealthiest people — those with assets exceeding $30 million — went to college.

In its tally, Wealth-X counted alumni with both undergraduate and graduate degrees, counting alumni of multiple institutions more than once, but left out those with diplomas, certificates, honorary degrees, and drop outs. Considering some of the world's richest self-made billionaires dropped out of Harvard, Stanford, University of Chicago, and other schools on this list, the numbers of UHNW alumni could be even higher had they graduated.

Of the top 20 colleges in the world that produce the wealthiest people, five are public universities, six are Ivy League, and only one is located outside of the US. By and large, Harvard University mints the highest number of millionaires and billionaires, which together command a net worth of $811 billion, more than twice that of the No. 2 school, University of Pennsylvania.

Below, check out the top 20 colleges in the world that have produced the most rich people, along with the total known number of UHNW individuals with degrees from the institutions, and their combined wealth.

See which schools came out on top:

20PHOTOS

Colleges that produce the most millionaires and billionaires

See Gallery

Colleges that produce the most millionaires and billionaires

20. University of California, Los Angeles

Larry Fink, cofounder, chairman, and CEO of BlackRock, class of 1974 and 1976.

Known UHNW alumni: 235

Combined wealth: $63 billion

(Photo by Thos Robinson/Getty Images for New York Times)

19. Boston University

Radio host Howard Stern, class of 1976.

Known UHNW alumni: 241

Combined wealth: $62 billion

(Photo by: Virginia Sherwood/NBC/NBCU Photo Bank via Getty Images)

18. University of Cambridge

Arianna Huffington, co-founder and editor-in-chief of The Huffington Post and founder and CEO of Thrive Global, class of 1972.

Known UHNW alumni: 271

Combined wealth: $69 billion

REUTERS/Lucas Jackson

17. University of Michigan

Larry Page, founder and CEO of Alphabet, class of 1995.

Known UHNW alumni: 272

Combined wealth: $141 billion

Photographer: David Paul Morris/Bloomberg via Getty Images

16. University of Notre Dame

NFL hall of famer Joe Montana, class of 1979.Business Insider

Known UHNW alumni: 277

Combined wealth: $44 billion

(Photo by Thearon W. Henderson/Getty Images)

15. University of California, Berkeley

Cofounder and chairman emeritus of Intel Gordon Moore, class of 1950.

Known UHNW alumni: 290

Combined wealth: $125 billion

(Photo by Justin Sullivan/Getty Images)

14. The University of Texas at Austin

Rex Tillerson, US Secretary of State and former chairman and CEO of ExxonMobil, class of 1975.